Lanxess AG (LTS:0H7I)

€ 22.805 -0.945 (-3.98%) Market Cap: 1.95 Bil Enterprise Value: 4.46 Bil PE Ratio: 0 PB Ratio: 0.45 GF Score: 71/100

Q3 2024 Lanxess AG Earnings Call Transcript

Nov 07, 2024 / 12:00PM GMT

Release Date Price: €24.42 (-4.63%)

Transcript

Key Points

Positve

Lanxess AG (LNXSF) reported a 5% volume increase, particularly in the additives and intermediates segments.
Nine out of ten business units reported growth, indicating broad-based performance improvements.
The company achieved a significant EBITDA improvement due to cost control measures and increased utilization rates.
Lanxess AG (LNXSF) successfully maintained stable net financial debt despite an increase in working capital.
The divestment of Urethane Systems is expected to be beneficial, marking a strategic shift away from polymer businesses.

Negative

The Saltigo business unit experienced a significant decline, impacting the consumer protection segment's profitability.
The anticipated rebound in the agro segment did not materialize, affecting overall performance.
Macroeconomic uncertainties and a softening market environment pose challenges for the second half of 2024.
The company had to prepare for a potential US harbor strike, which impacted inventory levels.
Despite improvements, the company does not expect to return to normal trading levels until potentially 2026.

Operator

Good day and thank you for standing by. Welcome to the Lanxess Q3 2024 results webcast and conference call. (Operator Instructions) Please be advised that today's conference is being recorded. I would now like to hand the conference over to your first speaker today, Andre Simon, Head of Investor relations. Please go ahead, sir.

Andre Simon

Lanxess AG - Head of Investor Relations

Thank you very much, Sharon, and a warm welcome to everybody to our Q3 '24 conference call from my end as well. As always, we begin by asking you to take notice of our Safe Harbor statements. And with me today is our CEO, Matthias Zachert; and our CFO, Oliver Stratmann. Matthias will start with a short presentation and then we will open the floor for your questions.

With that, I'm happy to hand over to Matthias. Please go ahead.

Matthias Zachert

Lanxess AG - Chairman of the Management Board, Chief Executive Officer

Thank you, Andre, and welcome, everybody, to our Q3 results call. I'll start immediately with the presentation on

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